Veterinary Entrepreneurship Academy Wraps First Year with Nationwide Participation

Posted November 22, 2017

One of the ways the world of veterinary medicine is changing is
through an increased focus on the veterinarian as an
entrepreneur.

Thirteen veterinary
students from seven universities across North America were given
the opportunity to intern with companies that are taking innovative
approaches to their work in the veterinary and pet industries as
part of the Texas A&M College of Veterinary Medicine &
Biomedical Sciences’ (CVM) 2017 Veterinary Entrepreneurship Academy
(VEA).

The unique, 12-week program combines startups, students,
universities, and veterinary practices to accelerate animal health
innovation in an effort to educate, inspire, and transform students
into future leaders and innovators within the industry.

As part of the program students from veterinary schools at
Colorado State University, Biomedical Sciences Lincoln Memorial
University, Michigan State University, Oregon State University,
Texas A&M University, University of Guelph-Ontario, and
University of Missouri participated in internship projects with
partner startup companies and a challenging curriculum focused on
entrepreneurship and business. VEA startup partners include Drip,
FuturePet, Fuzzy, Hills Vetrax, Instinct, Innately, Pet Coach,
Scopio, VetCove, VetBloom, and Veterinary Innovation Council.

Topics covered included the Lean Startup method, the business
model canvas, the sprint process, prototyping, design thinking,
customer engagement and experience, problem definition,
communication skills and team culture, working remotely, and
startup funding.

“The
VEA is designed to empower these students with the mindset and
skills to thrive in the changing world of animal health,” said Adam
Little, CVM adjunct assistant professor of practice and VEA
creator. “The caliber of each student (who participated this year)
exceeded our expectations, and they brought a tremendous amount of
passion and energy to each of their respective position.”

The program concluded with a two-day event in Portland, Oregon,
sponsored, in part, by Merck and in collaboration with the NAVC
LIVE conference.

“The in-person event allowed for a more personal level of
networking and collaboration between students, program leadership,
and sponsors,” Little said. “Students were also asked to ‘pitch’
their startup companies and talk about the VEA experience in front
of a live audience of meeting attendees.”

The VEA strives to advance student learning and accelerate new
products and services from some of industry’s most promising
companies by combining a summer curriculum in entrepreneurship with
a practical internship in a startup company.

Veterinary schools contributed a $5,000 stipend towards their
participating students, and startup partners paid $5,000 to the
program in order to receive a summer intern.

Students reported very positive overall experiences with the
summer program, with the average total confidence improvement at
more than 90 percent.:

“I’m not joking when I say that this program completely upended
my perspective of this field and the place I will hold within it,”
one participant commented. “This space creates a magnet for
hardworking, out-of-the-box thinkers to come together, and that’s
the best part.”

“I think this is such an amazing opportunity for students,”
another student said. “I honestly believe this program has changed
the course of my career. Thank you for giving me the courage to
follow my heart and the knowledge to back the decision to do
so!”

“I would 100 percent recommend this program to someone if it
sparks some interest in them,” a third participant said. “I think
this program is great for students who want to learn more about
non-traditional veterinary careers, specifically business
ones.”